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IEA Releases its Africa Energy Outlook 2022 Report
22nd June 2022
The International Energy Agency (IEA) has published its Africa Energy Outlook 2022 – a report assessing the continent’s current and future energy make up, highlighting Africa’s sustainable energy transition.
As demand for low-carbon resources rise globally, energy rich regions in Africa will be prime contenders in the exports market. In the newly released report, the IEA’s Sustainable Africa Scenario (SAS) sees carbon capture and storage (CCS) playing a role in Africa’s hydrogen production potential. Although infrastructure and policy development in CCS have yet to strongly emerge, CCS will be a needed component in Africa’s hard to abate industry in order remain competitive in the global demand for sustainable products.
The report further notes that multilateral development banks will need to increase financial supports to Africa with high priority if the Sustainable Africa Scenario is to be fully realized. Although the continent is a small contributor to global CO2 emissions, the IEA notes that by 2050 the medium temperature will likely rise by 2.7 degrees Celsius in North Africa, making climate risks significantly higher than the rest of the world.
This is the IEA’s third Africa Energy Outlook published since 2014.
For more, read the full report here.